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- Crystalys Therapeutics
Crystalys Therapeutics Valuation, Funding & Investors
Crystalys Therapeutics is valued at $800M as of September 2025.
Last Crystalys Therapeutics valuation
$800M
Series A · Sep 2025
Last Crystalys Therapeutics funding round
$130M
Series B · Jul 2026
Cumulative funding Crystalys Therapeutics raised
$335M
across 2 funding rounds
Key investors in Crystalys Therapeutics
SR One
Catalys Pacific
Alexandria Venture Investments
Novo Holdings
Wellington Management
Lightstone Ventures
About Crystalys Therapeutics
Crystalys Therapeutics is a clinical-stage biopharmaceutical company headquartered in Basel, Switzerland, developing treatments for gout. Its lead candidate, CRY-2001, is a selective URAT1 inhibitor administered subcutaneously to reduce serum uric acid levels. The firm advances therapies addressing uncontrolled gout through improved solubility and patient compliance in ongoing Phase 2 trials.
Founded
2025
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Product sales
Valuation
$800M (Sep 2025)
Sectors
Crystalys Therapeutics Valuation
Crystalys Therapeutics is currently valued at $800M, based on its Series A in September 2025.
The $205M round was led by Catalys Pacific, Novo Holdings and SR One.
Crystalys Therapeutics valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Sep 2025 | Series A | $800M |
Crystalys Therapeutics Funding History
Crystalys Therapeutics has raised a total of $335M across 2 funding rounds.
Crystalys Therapeutics' first fundraising round was a $205M Series A in September 2025. The most recent completed round was a $130M Series B in July 2026.
Crystalys Therapeutics funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2026 | Series B | Frazier Life Sciences (lead); Lightstone Ventures; Wellington Management; Longwood Fund; Alexandria Venture Investments; Cormorant Asset Management; SR One; Catalys Pacific; KCap Biotechnology Fund; Pivotal bioVenture Partners; AN Ventures; Wedbush Healthcare Partners | $130M | - | Crystalys Therapeutics raised USD 130 million in a Series B financing on July 22, 2026, led by Frazier Life Sciences with participation from Wellington Management and other new and existing investors. The company issued convertible preferred stock in the transaction. The financing was structured to support ongoing late-stage global clinical development and commercialization preparation for dotinurad, its once-daily oral URAT1 inhibitor for gout. The round extends Crystalys’s earlier large-scale fundraising, following a USD 205 million Series A in 2025, and reflects investor backing for its plan to advance two registration-directed Phase 3 trials and related clinical work. Dotinurad is positioned as a potential best-in-class gout therapy, and the new capital is intended to fund development and commercialization readiness. Crystalys is a clinical-stage biopharmaceutical company based in San Diego focused on gout. The company emerged from stealth in 2025 and has assembled a large syndicate of healthcare investors across its financing rounds, including both new and returning backers. |
| Sep 2025 | Series A | Catalys Pacific (lead); Novo Holdings (lead); SR One (lead) | $205M | $800M | Crystalys Therapeutics is a clinical-stage biopharmaceutical company headquartered in San Diego, California, founded in 2023, focused on transforming gout treatment with its lead asset dotinurad, a once-daily oral URAT1 inhibitor already approved in Japan, China, Philippines, and Thailand, demonstrating robust efficacy and safety in clinical studies and real-world use. The company emerged from stealth with a $205 million Series A financing round on September 30, 2025, co-led by Novo Holdings, SR One, and Catalys Pacific, with participation from Perceptive Xontogeny Venture Funds, Lightstone Ventures, AN Venture Partners, funds managed by abrdn Inc., KB Investments, Pontifax, Longwood Fund, Alexandria Venture Investments, Wedbush Healthcare Partners, and Prebys Ventures Fund. Proceeds will advance dotinurad into global Phase 3 trials targeting the US and Europe as a second-line therapy for gout patients unresponsive to first-line treatments. Led by CEO James Mackay, Ph.D., with over 40 years in drug development including six approvals, Crystalys was co-founded by Catalys Pacific and Novo Holdings, assembling a team with deep gout expertise from prior roles at Ardea Biosciences and Aristea Therapeutics. The company has over 60 employees and positions dotinurad for best-in-class safety and efficacy based on extensive Asian clinical data. A post-money valuation of $800 million was reported for this round, marking a significant milestone in the biotech sector amid strong investor interest in gout innovation. Gout represents a major unmet need affecting millions, and Crystalys aims to address gaps in current therapies. The financing reflects confidence in the asset's validated profile and the team's track record, with plans to deploy funds for Phase 3 execution and market expansion. Fortress Biotech's subsidiary Urica Therapeutics holds an equity position in Crystalys, tying into prior gout development efforts. |
Who has invested in Crystalys Therapeutics?
13 investors have backed Crystalys Therapeutics across its funding rounds, including SR One, Catalys Pacific, Alexandria Venture Investments, Novo Holdings, Wellington Management and Lightstone Ventures.
Lead investors include Frazier Life Sciences, Catalys Pacific, Novo Holdings and SR One.
Crystalys Therapeutics Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Sep 2025 | ||
| 2 | Lead | Sep 2025 | ||
| 1 | Participant | Jul 2026 | ||
| 1 | Participant | Jul 2026 | ||
| 1 | Lead | Jul 2026 | ||
| 1 | Lead | Sep 2025 | ||
| 1 | Participant | Jul 2026 | ||
| 1 | Participant | Jul 2026 | ||
| 1 | Participant | Jul 2026 | ||
| 1 | Participant | Jul 2026 | ||
| 1 | Participant | Jul 2026 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialCrystalys Therapeutics Competitors
Crystalys Therapeutics competitors include listed companies like Design Therapeutics, China TCM, Aclaris Therapeutics and Guizhou Sanli, and private ones like Umoja Biopharma and Stramsen Biotech.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $800M | - | ||
| Publicly listed | - | ($79M) | $802M | - | ||
| Publicly listed | $2.2B | $128M | $805M | 0.4x | ||
| Publicly listed | $8M | ($72M) | $795M | 108.5x | ||
| Publicly listed | $254M | $22M | $794M | - | ||
| Private | - | - | $807M | - |
Crystalys Therapeutics Public Comps
Crystalys Therapeutics is still privately-owned, but its public comps include Design Therapeutics, China TCM, Aclaris Therapeutics, Guizhou Sanli, HK inno.N, Climb Bio, Annexon, 4D Molecular Therapeutics, Achieve Life Sciences and BlossomHill Therapeutics.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| - | ($79M) | - | - | (7.6x) | - | |||
| $2.2B | $128M | 0.3x | 0.4x | 5.5x | 6.9x | |||
| $8M | ($72M) | 89.9x | 108.5x | (9.8x) | - | |||
| $254M | $22M | 3.4x | - | 38.4x | - | |||
| $774M | $109M | 1.4x | 1.3x | 9.6x | 8.5x | |||
| - | ($68M) | - | - | (9.2x) | (9.0x) | |||
| - | ($214M) | - | - | (2.8x) | (2.7x) | |||
| $85M | ($152M) | 5.7x | 14.6x | (3.2x) | (1.9x) | |||
This data is available for Pro users. Sign up to see all Crystalys Therapeutics competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Crystalys Therapeutics
| When was Crystalys Therapeutics founded? | Crystalys Therapeutics was founded in 2025. |
| Where is Crystalys Therapeutics headquartered? | Crystalys Therapeutics is headquartered in San Diego, CA, United States. |
| Is Crystalys Therapeutics publicly listed? | No, Crystalys Therapeutics is a private, VC-backed company. |
| What is Crystalys Therapeutics' valuation? | Crystalys Therapeutics was last valued at $800M in its Series A in September 2025. |
| How much funding has Crystalys Therapeutics raised? | Crystalys Therapeutics has raised $335M across 2 funding rounds. |
| What was Crystalys Therapeutics' last funding round? | Crystalys Therapeutics' last funding round was a $130M Series B in July 2026, led by Frazier Life Sciences. |
| Who are Crystalys Therapeutics' investors? | Crystalys Therapeutics' investors include SR One, Catalys Pacific, Lightstone Ventures, Wellington Management, Frazier Life Sciences, Novo Holdings, Longwood Fund, Alexandria Venture Investments, Cormorant Asset Management, KCap Biotechnology Fund and 3 others. |
| Which companies are comparable to Crystalys Therapeutics? | Companies comparable to Crystalys Therapeutics include Umoja Biopharma, Design Therapeutics, China TCM, Aclaris Therapeutics, Guizhou Sanli and Stramsen Biotech. |
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